OTHERS AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED UNIT SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING UNIT IN AXIS-REIT (“EXISTING UNIT”) HELD BY THE ENTITLED UNITHOLDERS OF AXIS-REIT (“ENTITLED UNITHOLDERS”) ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER (“UNIT SPLIT ENTITLEMENT DATE”), INTO TWO (2) UNITS IN AXIS-REIT (“SUBDIVIDED UNITS”) (“PROPOSED UNIT SPLIT”); (II) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO: (A) 219,103,216 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED, REPRESENTING UP TO 20% OF THE ISSUED FUND SIZE OF AXIS-REIT AFTER THE PROPOSED UNIT SPLIT OF 1,095,516,080 SUBDIVIDED UNITS; OR (B) 109,551,608 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 547,758,040 EXISTING UNITS, TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”); (III) PROPOSED RENEWAL OF THE AUTHORITY TO ALLOT AND ISSUE UP TO 155,194,684 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED OR UP TO 77,597,342 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, FOR THE PURPOSE OF THE INCOME DISTRIBUTION REINVESTMENT PLAN THAT PROVIDES THE UNITHOLDERS OF AXIS-REIT (“UNITHOLDERS”) WITH THE OPTION TO ELECT TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS IN AXIS-REIT; AND (IV) PROPOSED INCREASE IN THE FUND SIZE OF AXIS-REIT
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR “FUND”) (I) PROPOSED UNIT SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING UNIT IN AXIS-REIT (“EXISTING UNIT”) HELD BY THE ENTITLED UNITHOLDERS OF AXIS-REIT (“ENTITLED UNITHOLDERS”) ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER (“UNIT SPLIT ENTITLEMENT DATE”), INTO TWO (2) UNITS IN AXIS-REIT (“SUBDIVIDED UNITS”) (“PROPOSED UNIT SPLIT”); (II) PROPOSED AUTHORITY TO ALLOT AND ISSUE UP TO: (A) 219,103,216 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED, REPRESENTING UP TO 20% OF THE ISSUED FUND SIZE OF AXIS-REIT AFTER THE PROPOSED UNIT SPLIT OF 1,095,516,080 SUBDIVIDED UNITS; OR (B) 109,551,608 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, REPRESENTING UP TO 20% OF THE EXISTING ISSUED FUND SIZE OF AXIS-REIT OF 547,758,040 EXISTING UNITS, TO FACILITATE A PLACEMENT EXERCISE (“PROPOSED PLACEMENT”); (III) PROPOSED RENEWAL OF THE AUTHORITY TO ALLOT AND ISSUE UP TO 155,194,684 NEW SUBDIVIDED UNITS IF THE PROPOSED UNIT SPLIT IS IMPLEMENTED OR UP TO 77,597,342 NEW EXISTING UNITS IF THE PROPOSED UNIT SPLIT IS NOT IMPLEMENTED, FOR THE PURPOSE OF THE INCOME DISTRIBUTION REINVESTMENT PLAN THAT PROVIDES THE UNITHOLDERS OF AXIS-REIT (“UNITHOLDERS”) WITH THE OPTION TO ELECT TO REINVEST THEIR INCOME DISTRIBUTION IN NEW UNITS IN AXIS-REIT; AND (IV) PROPOSED INCREASE IN THE FUND SIZE OF AXIS-REIT |
On behalf of the Board of Directors of Axis REIT Managers Berhad, being the management company of Axis-REIT (“Manager”), Maybank Investment Bank Berhad wishes to announce that the Manager proposes to undertake the abovementioned proposals. Please refer to the attachment for further details on the proposals. This announcement is dated 3 March 2015. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 3 Mar 2015 |
| Category | General Announcement |
| Reference No | MI-150303-64757 |
